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Small acquirers enjoy announcement period returns that are significantly higher than announcement returns for larger acquirers, but small acquirers significantly underperform after the acquisition is consummated. We investigate why the market appears to “get it wrong” at the announcement of...
Persistent link: https://www.econbiz.de/10012905556
In late 2017, DuraTable received a number of unsolicited inquiries regarding its interest in selling out in a going private transaction, mostly from private equity firms. Since the chairman of the board and founder, Gary Reynolds, was approaching retirement age and the largest single shareholder...
Persistent link: https://www.econbiz.de/10011991223
businesses compared to prior to the merger or compared to the contemporaneous lending by non-merging banks. We investigate the … merger related effects on small business lending in Germany from a bank-level perspective. Furthermore, we estimate small …
Persistent link: https://www.econbiz.de/10003784021
-relationship borrowers who "switch" to another bank following a merger will be less harmed than those whose relationship is "dropped" and not … to be dropped. We track post-merger performance and show that many dropped target-bank borrowers are harmed by the merger …
Persistent link: https://www.econbiz.de/10013137850
-relationship borrowers who "switch" to another bank following a merger will be less harmed than those whose relationship is "dropped" and not … to be dropped. We track post-merger performance and show that many dropped target-bank borrowers are harmed by the merger …
Persistent link: https://www.econbiz.de/10013156656
complexity upon a merger, rather than a post-merger cost-cut, is likely to cause a negative and significant impact on soft …
Persistent link: https://www.econbiz.de/10012954778
results indicate that, relative to counties where the acquirer had operations before the merger, local SBL declined … significantly more in counties where only the target had operations before the merger. This result holds even after controlling for … funding to local small businesses. The absence of local community banks that became a target of a merger or acquisition by …
Persistent link: https://www.econbiz.de/10011891865
Persistent link: https://www.econbiz.de/10010415950
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This paper investigates the post-merger performance effects of merger and acquisitions (M&As). Our study is based on a …
Persistent link: https://www.econbiz.de/10013099271